N&M RECY: what changed
N&M RECY
Largest movements
- Receivables within one year +€6,868
up €6,868 (+953%), from €721 to €7,589
of which Trade receivables: +€6,179
- Tangible fixed assets +€5,982
up €5,982 (+175%), from €3,414 to €9,396
of which Furniture and vehicles: +€5,009
- Cash -€5,682
down €5,682 (-51.9%), from €10,940 to €5,258
mainly Investment in fixed assets (net) (-€11,281) and Receivables within one year (-€6,868)
- Formation expenses +€869
new in 2025: €869
- Profit (loss) carried forward +€9,982
up €9,982 (+323%), from €3,087 to €13,068
- Trade debts -€4,872
down €4,872 (-90.5%), from €5,383 to €511
- Tax, wage and social debts +€2,926
up €2,926 (+247%), from €1,185 to €4,112
of which Taxes: +€2,828
- Gross operating margin +€10,481
up €10,481 (+147%), from €7,141 to €17,621
- Depreciation +€4,344
up €4,344 (+5,040%), from €86 to €4,430
- Financial charges -€1,617
down €1,617 (-76.8%), from €2,106 to €490
- Taxes +€1,331
up €1,331 (+112%), from €1,185 to €2,516
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,155 | €23,191 | +€8,036 | +53.0% |
| Formation expenses | 20 | - | €869 | +€869 | |
| Fixed assets | 21/28 | €3,494 | €9,476 | +€5,982 | +171% |
| Tangible fixed assets | 22/27 | €3,414 | €9,396 | +€5,982 | +175% |
| Plant, machinery and equipment | 23 | - | €973 | +€973 | |
| Furniture and vehicles | 24 | €3,414 | €8,422 | +€5,009 | +147% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €11,661 | €12,847 | +€1,186 | +10.2% |
| Amounts receivable within one year | 40/41 | €721 | €7,589 | +€6,868 | +953% |
| Trade receivables | 40 | - | €6,179 | +€6,179 | |
| Other amounts receivable | 41 | €721 | €1,410 | +€689 | +95.6% |
| Cash at bank and in hand | 54/58 | €10,940 | €5,258 | -€5,682 | -51.9% |
| Total equity and liabilities | 10/49 | €15,155 | €23,191 | +€8,036 | +53.0% |
| Equity | 10/15 | €8,587 | €18,568 | +€9,982 | +116% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,087 | €13,068 | +€9,982 | +323% |
| Amounts payable | 17/49 | €6,568 | €4,623 | -€1,945 | -29.6% |
| Amounts payable within one year | 42/48 | €6,568 | €4,623 | -€1,945 | -29.6% |
| Trade debts | 44 | €5,383 | €511 | -€4,872 | -90.5% |
| Suppliers | 440/4 | €5,383 | €511 | -€4,872 | -90.5% |
| Taxes, remuneration and social security | 45 | €1,185 | €4,112 | +€2,926 | +247% |
| Taxes | 450/3 | €1,185 | €4,013 | +€2,828 | +239% |
| Remuneration and social security | 454/9 | - | €99 | +€99 | |
| Non-recurring operating income | 76A | €5,103 | €6,618 | +€1,516 | +29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86 | €4,430 | +€4,344 | +5,040% |
| Other operating charges | 640/8 | €176 | €204 | +€28 | +16.1% |
| Gross operating margin | 9900 | €7,141 | €17,621 | +€10,481 | +147% |
| Operating profit (loss) | 9901 | €6,879 | €12,987 | +€6,108 | +88.8% |
| Financial charges | 65/66B | €2,106 | €490 | -€1,617 | -76.8% |
| Recurring financial charges | 65 | €2,106 | €490 | -€1,617 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | €4,772 | €12,497 | +€7,725 | +162% |
| Income taxes | 67/77 | €1,185 | €2,516 | +€1,331 | +112% |
| Profit (loss) for the period | 9904 | €3,587 | €9,982 | +€6,395 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €3,587 | €9,982 | +€6,395 | +178% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.